Packet parsing is the basic operation performed at all points of the network infrastructure. Modern networks impose challenging requirements on the performance and configurability of packet parsing modules, however the high-speed parsers often use very large chip area. We propose novel architecture of pipelined packet parser, which in addition to high throughput (over 100 Gb/s) offers also low latency. Moreover, the latency to throughput ratio can be finely tuned to fit the particular application. The parser is handoptimized thanks to the direct implementation in VHDL, yet the structure is very uniform and easily extensible for new protocols.